"The Euro may be carving out a top below the 1.11 figure against the US Dollar having rebounded as expectedafter last month’s ECB policy meeting. Prices appear to be carving out a bearish Head and Shoulders chart formation, although confirmation of the setup is still pending for now.""A daily close below the 1.0777-1.0818 area marked by the May 27 low and the 23.6% Fibonacci expansion clears the way for a challengeof the 38.2% level at 1.0602. ...
US DOLLAR TECHNICAL ANALYSIS – Prices aredigesting gains near a five-year high but negative RSI divergence casts doubt on immediate follow-through. A daily close above the 38.2% Fibonacci expansionat 11577 exposes the 50% level at 11648. Alternatively, a reversal below the 11489-522 area marked by the December 8 top and the 23.6% Fib opens the door for a challenge of the 14.6% expansion at 11434. ...
Weekly -BIG picture, monthly RSI has broken out of a triangle pattern. Sometimes, a pattern breakout in momentum (or OBV) precedes the breakout in price. The development’s implications are obviously significant. -“After following through on the 11/7 reversal and exceeding the 11/4 high, it appeared that EURUSD was going to make an attempt ...
USD/CHF Technical Strategy: Longat 0.9452Support: 0.9541, 0.9441, 0.9359Resistance:0.9658, 0.9741, 0.9815 The US Dollar declined against the Swiss Franc as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. A daily close below 0.9541-64 area marked by a rising trend line and a falling channel bottom exposes the October 29 low at 0.9441. Alternatively, a reversal above the channel top at 0.9658 clears the way for a test of the November 7 high at 0.9741. ...
EUR/USD rallies back above 1.2500Monday’s range extremes critical in the AussieUSD/CAD sentiment close to neutral EUR/USD EUR/USD failed yesterday near the 2nd square root relationship of the year’s low at 1.2580Our near-term trend bias is negative in the exchange rate while below 1.2580A close under 1.2440 is now needed to confirm a resumption of the ...
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